Infinios Financial Services B.S.C.(c) (Infinios), formerly known as NEC Payments B.S.C.(c), a regional leader in banking-as-a-service and digital banking technology solutions, has announced that it has been acquired by nDigital Holdings SPC (nDigital), a group holding company based in the Cayman Islands.
The transaction, which was completed after obtaining regulatory approval from the Central Bank of Bahrain (CBB), will lead to Infinios – who are licensed and regulated by the CBB as an Ancillary Services Provider: Card Processor and Payment Services Provider – forming a key element of nDigital’s growing portfolio of fintech and digital platform businesses.
Andrew Sims, CEO of Infinios and newly appointed as Group CEO of nDigital said: “The acquisition of Infinios by nDigital signals the next phase of our growth and will enable us to readily execute our objectives to grow the software as a service and software licensing aspects of our business, aggressively build upon the footholds that Infinios has created in Europe, Africa and North America, and obtain regulatory licenses in Europe.”
Additionally, the transaction will enable close collaboration between Infinios and other businesses in the nDigital portfolio, including nDigital Ventues, the incubator and accelerator that is wholly owned by nDigital.
Fuad Nonoo, Chairman of nDigital commented: “The acquisition of Infinios is a significant step in nDigital’s strategic plan to grow our portfolio of interests in digital commerce businesses; it will not only enable us to participate in the exponential growth of Infinios but also to expand the activities of our incubator and accelerator, nDigital Ventures, through the use of Infinios’ Infinite Solutions Platform to enable the fintech and digital platform businesses that we invest in.”